South Africans can expect record fuel price increases in April with petrol projected to touch R24 a litre and diesel R23.60 a litre.
The Automobile Association (AA) says that based on the mid-month fuel data released by the Central Energy Fund, petrol is set to increase by R2.15 per litre, diesel by between R2.94 and R3.08 per litre and illuminating paraffin by R2.51 per litre.
The AA's Layton Beard says that if realised at month-end, these will be the biggest increases to fuel prices in South Africa's history and will, undoubtedly, have major ramifications for all consumers and the economy in general.
"We must note, though, that this is the mid-month outlook, and oil prices are, for the moment, see-sawing significantly so there may yet be some relief before the official adjustment by the Department of Mineral Resources and Energy is made going into April."
The main driver behind the increases is the movement in international oil prices which have soared to record levels in recent weeks because of the conflict in Ukraine and concerns over Russian oil supplies.
Beard said consumers should brace themselves and prepare for what is likely to be a long winter if the conflict in Ukraine is drawn out.
